Nova Scotia Mission Promotes Petroleum Resources

Nova Scotia's petroleum resources mean real opportunity for investors, say members of a delegation from the Nova Scotia Department of Energy.

Energy Minister Cecil Clarke told the North American Prospectors' Exchange in Houston, Texas, today, Feb. 2, that "there are few areas that present as many unrealized opportunities in conventional oil and gas development as Nova Scotia."

He said these opportunities exist in a number of areas: "Both onshore and offshore, there are new discoveries to be made ... and new successes waiting to be realized."

Mr. Clarke said the opportunities are especially valuable for the United States, as there is already a natural gas pipeline to growing markets in the New England states. "It provides the secure, stable delivery system that frontier projects need" he explained.

The minister told the audience he had successful meetings with several exploration and development companies, including Bass Enterprises Production and Hunt Oil. "Hunt and Bass are two of the companies who have been blazing the trail in some new offshore areas. Their work sets the stage for drilling in those areas -- and has helped us develop new rules to make the process more efficient in the future."

Mr. Clarke also met with officials from Marathon Oil, El Paso Corporation and ExxonMobil.

He made his remarks at a luncheon sponsored by the Canadian Consulate in Houston. More than 400 petroleum sector executives attended.

The trade show continues until Friday, Feb. 3. At least 12,000 delegates are expected to attend.